Been reading these boards for a little bit and thought it was time to introduce myself. This site is such an invaluable resource! Thank you all for all your contributions and for the inspiration, truly.
A little bit about the spouse and me:
Dual military officers—Majors/O-4s—with 10 years to go until military pensions (both 'on track' for O-5). No debt, no mortgage (until our 2020 relocation), with no plans to own a long-term rental home. Two kids under 3 this year. They will be 10 and 12 in 2028 when we want to be FI.
Goal: Achieve FIRE by the 20-year mark in the Air Force, ages 42 and 43 (2028). Aiming to live on military pensions and taxable account income, if necessary, until retirement accounts kick in. Still pondering where to settle down during the kids' high school and college years, but it'll absolutely be a state that doesn't tax military pensions.
Our retirement accounts consist of Vanguard Roth IRAs and Thrift Savings Plans which are maxed out annually and invested in target retirement funds. $353K.
Total in non-retirement accounts is approx. $185K, and consists of the following:
Combined AGI in 2017 was $133,144 (not including housing allowances). Current annual expenses are $77K in our HCOL area + daycare expenses.
I’m not sure what else we should change or do in addition to the above to reach our goal of FIRE by 2028. I’d love your thoughts! And it's great to meet you.
A little bit about the spouse and me:
Dual military officers—Majors/O-4s—with 10 years to go until military pensions (both 'on track' for O-5). No debt, no mortgage (until our 2020 relocation), with no plans to own a long-term rental home. Two kids under 3 this year. They will be 10 and 12 in 2028 when we want to be FI.
Goal: Achieve FIRE by the 20-year mark in the Air Force, ages 42 and 43 (2028). Aiming to live on military pensions and taxable account income, if necessary, until retirement accounts kick in. Still pondering where to settle down during the kids' high school and college years, but it'll absolutely be a state that doesn't tax military pensions.
Our retirement accounts consist of Vanguard Roth IRAs and Thrift Savings Plans which are maxed out annually and invested in target retirement funds. $353K.
Total in non-retirement accounts is approx. $185K, and consists of the following:
Brokerage is 28% bonds, 72% stocks, mostly in VTSAX and VBTLX. $68K
529, $250/mon. $5K. (The other kid will get my MGIBill)
1-year CD, 2.05% APY, matures 2019: $15K initial deposit.
4-year CD, 1.98% APY (I know, ouch), matures 2020: $70,500 initial dep.(Did I mention this was a mistake?)
Cash, 1.45% APY, $22K
Combined AGI in 2017 was $133,144 (not including housing allowances). Current annual expenses are $77K in our HCOL area + daycare expenses.
I’m not sure what else we should change or do in addition to the above to reach our goal of FIRE by 2028. I’d love your thoughts! And it's great to meet you.